Following a scandal during this year’s 2016 Rio Olympics, athlete and gold medalist Ryan Lochte, has lost four endorsements and counting. SPEEDO USA is just one of four companies that opted to drop Lochte from their brand after learning that he had misled the public. The announcement came via Twitter early this morning.
The official response regarding our sponsorship of Ryan Lochte. pic.twitter.com/0DdP2RyceD
— Speedo USA (@SpeedoUSA) August 22, 2016
Earlier in the games, American swimmers Lochte, Jimmy Feigen, Jack Conger, and Gunner Bentz falsely claimed they had been robbed at gunpoint following a night of partying. However, questions rose as all four athletes were seen joking and laughing after returning to the Olympic village. Far from what was expected out of a group of men who claimed to have just been robbed. Shortly after, videos had surfaced showing the men vandalizing a gas station instead. During which they were accosted by security officers and forced to pay for the damages.
Ralph Lauren, who outfitted Team USA for both the opening and closing ceremonies, have also opted to cut ties with Lochte. Gentle Hair Removal and Airweave, a company, also chose to end their respective relationships.
Lochte however, has not let this situation completely hamper his spirits. Admitting during an interview with NBC, that it was due to his “over-exaggeration of the situation” as well as his own “immature behavior”. Lochte has seemingly taken some accountability for what occurred that night.